Sezad woos S. Korean businesses to Oman
The campaign underscores the utmost importance of boosting trade and economic relations between Oman and South Korea
Times News Service
MUSCAT: The “Invest in Duqm” campaign of the Special Economic Zone Authority in Duqm (Sezad) has called for more bilateral economic and investment partnerships with South Korea.
Yahia Al Jabri, Chairman of Sezad, said, “The political and economic relations between the Sultanate and the Republic of Korea are witnessing further development and growth and the promotional campaign in Korea underscores the utmost importance of boosting economic and trade relations between the two countries.”
“We are looking forward to this promotion to explore investment opportunities in the region,” he said during a speech at the Invest in Duqm seminar held on September 13, 2018.
The strategic location of Duqm and the political stability in the Sultanate qualifies the country to become a hub for more investments. The promotion campaign in Korea is the third stop of Sezad in its current Asian tour, which has held two seminars in the Japanese cities of Tokyo and Osaka.
Mohammed Al Harthy, the Sultanate’s ambassador to the Republic of Korea, praised the efforts of Sezad in attracting investments and added that this seminar is part of the authority’s strategy to increase investments in the region and to update the investment opportunities available in Oman to Korean companies.
He pointed out that the visit of the Prime Minister of the Republic of Korea to the Sultanate in July discussed several topics to expand the relations between the two countries to include multiple sectors, and in this sense, this promotional campaign in Korea comes as a follow-up visit and discussed topics to promote relations between the countries.
“We invite you to take initiatives to invest in Duqm and assure you of our support and cooperation,” he added.
The Korean side expressed its desire to develop the economic relations between the Sultanate and Korea. The Undersecretary of the Korean Ministry of Land, Infrastructure and Transport said that the memorandum of understanding signed with the Economic Zone Authority for cooperation in the field of the establishment of smart cities opens up wider fields for the investment of Korean companies in Duqm. “Duqm is an ideal environment for Korean investments both in terms of the location of the region, in terms of the advantages and facilities offered by the Commission and in terms of the expected returns of Korean companies through investment in Duqm,” he said.
The Vice President of the Chamber of Commerce and Industry of Korea praised the Korean investments in the Sultanate, especially in the petrochemical sector, and expressed his hope for further development in economic relations between the two countries.